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Is 5 crores enough to retire in India?

Many people want to save enough money for their future so that they can retire and enjoy their life in a peaceful manner. They always worry about how much money would be enough so that they can survive the rest of their lives without having to work. In this regard, let us discuss some crucial issues you need to consider when you are planning to retire. While some people feel that having one crore is sufficient to retire, few others feel that they need more than 5 crores to be able to lead a comfortable life in future.
Factors to consider before planning your retirement
There are many factors you need to consider before thinking about retirement. Remember that it is not a simple decision to take in your life and you will be leaving a steady source of income in most cases when you retire from work. The job market is very competitive and it may not be very easy to get a suitable job in future when you stop working for few years. In this situation, if you are past the age of 50 and thinking…
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What is an endowment policy and when should you get it?

The endowment life insurance policy covers the risk and offers returns after the maturity. If there is a risk, the sum assured will be paid to the policyholder. The lump sum that you obtain through the maturity will be used for life’s important events such as children’s education, children’s marriage and funding the retirement. The endowment plan will fulfill the dual need of the insurance and the lump sum benefit. The policyholder will enjoy the tax benefits under Section 80C and Section 10 (10D).
Benefits of endowment insurance plan
·The endowment policycovers the risk·Risk-free assured returns·Offers financial protection to their loved ones·Ensures savings to meet the life’s milestones·To build corpus for a long-term·Best combination of insurance and investment·The bonus paid on the policy will be paid at the maturity

Who can buy endowment plan?
The endowment plan can be bought by policyholder who can contribute regular premium to build a corpus on a long-term basis. People who spe…

Girl child saving schemes and investment options

Girls children have been subjected to and suffering from patriarchy since as long as we can remember and further back. Now, it is the time to give them what they have been deprived of so that their male counterparts could flourish.
There are a lot of insurance companies that offer various girl child saving schemes and investment options so that can grow to make something of their lives with equal and fair opportunities. A lot of options are available like child plans so that you can accumulate a corpus amount and give your girl a secure.
Child Plan
One of the best ways to invest for your girl child is to get them into a child plan. A child plan will not only protect them in case of the unfortunate death of their parent or guardian but will also provide them with a benefit on the maturity of the policy so that they can pursue whatever career or path that their heart desires. A child plan will help you accumulate huge sums of money to their future in terms education and career so that th…

New Pension Scheme for the Unorganized Sector by LIC

The un-organized sector in India defines most of the rural population and a part of urban population who are included in activities carried out by small and family enterprises, and includes family labor. In this sector, the wages of labor are not uniform due to the casual or seasonal nature of employment. This sector has low income, unstable and irregular employment, and lack of protection as they have less or no legislation or trade union in their favor. This sector adds more than 60% to the national income which is twice more than the organized sector in different industries.
Drastic changes in past
With the increase in income, the expenses too hiked. The cost for important aspects of one’s life health and education has become way too expensive. The price are expected to go high and high making it hard for a common man to survive and harder for the unorganised sector to live-by.
Need for Pension Plan
This brings us to one major decision, i.e; to plan our retirement well in advance so …

Merger with HDFC Life Could Have Been a Great Marriage To Have: Rajesh Sud, Max Life Insurance

It has been a popular practice among corporate institutions to merge resources and manpower to increase profits and overall productivity when doing business alone does not yield expected or desirable profits.
One such potentially beneficial merger that was expected to happen was between HDFC Life Insurance and Max Life Insurance. While said merger did not reach completion, Rajesh Sud, Managing Director of Max Life Insurance, admits that it would have been a fantastic business opportunity for both parties involved, should it have been followed through to completion.
Max Life Insurance: Background
Established in the year 2000, Max Life Insurance Company has emerged as one of the most reputed and trusted private insurance companies in India. Max Life Insurance Company Limited is a joint venture of Max India Limited and Mitsui Sumitomo Insurance Company Ltd. While Max India Ltd is an Indian multi-business corporate institution, Mitsui Sumitomo Insurance Co. Ltd is a general insurer. Max Lif…

How to prepare and file ITR completely online

The option for filing your tax returns online through the e-filing website can be used by individuals obtaining salary income. Furthermore, it is essential to consider the factor of eligibility for online tax filing India which implies that an individual must be validated by using the ITR 4 or ITR 1 form. You would also be amazed to find the opportunities of filing income tax returns online without the need to download any software or form. It is essential to focus on the unique stage wise procedure which could enable you to address your online tax filing concerns without any additional support.
A clear depiction of the online tax filing India steps presented below could act as a promising source for filing the form online, providing the relevant inputs of information and online submission in the final stage with minimal setbacks.
1.The first step towards filing your income tax returns online involves visiting the site which is the official e-fili…